CLV can be increased by
A) increasing retention rates.
B) increasing customer life.
C) increasing sales of the same product.
D) All of the options given are correct.

Question

Quizplus · Accepted Answer

Increasing retention rates will ensure that customers continue to make recurring purchases, thereby increasing the customer's lifetime value. Increasing customer life means that customers will continue to purchase from the company for a longer duration, also increasing the CLV. Similarly, increasing sales of the same product means that the customer is more likely to continue purchasing from the company, again contributing to an increase in CLV. Therefore, all of the options given are correct and can contribute to increasing CLV. CLV can be increased by increasing customer life, increasing retention rates, and increasing sales of the same product.

CLV Can Be Increased by